Head of Brokerage Trade Operations

Overview

The Head of Brokerage Trade Operations is responsible for leading Margin, Securities Lending, and Asset Servicing for Vanguard’s retail broker-dealer. This role oversees the operational effectiveness, risk management, and regulatory compliance of mission critical brokerage operations, while also supporting client segments with brokerage domain expertise. This includes representing Vanguard’s broker-dealer to regulators (e.g., FINRA, OCC) and overseeing numerous vendor and counter party relationships.

Additionally, the Head of Trade Operations is accountable for the strategy, design, optimation and growth of Margin and Fully Paid Lending products.

• Serves as leader of senior brokerage leaders and staff of 65. Provides strategic direction, vision, and coaching. Effectively manages performance and actively develops direct reports. Manages staff, including cross-site leadership. Provides guidance, training and motivation as necessary to develop staff and meet project deliverables. Evaluates, hires, and counsels personnel. Follows corporate disciplinary procedures per established Vanguard standards as required. Per Vanguard standards, sets performance standards, reviews performance, provides feedback, and recommends wage increases in accordance with all applicable Human Resources policies and procedures
• Provides thought leadership, shapes and provides strategic direction, and sets departmental goals for Trade Operations and its associated products and services. Leads and works with internal partners on offer pricing, product / service changes, client experience investments, sales and marketing strategies, etc. Adapts goals and strategies as market structure and industry, operational methods and procedures, technology, business opportunities or regulations change.
• Leads and manages various brokerage functions (Margin, Securities Lending, Asset Servicing), oversees performance of operation, and ensures compliance with SEC, OCC, FINRA regulations. Reviews applicable current and future regulatory requirements and business risks in order to ensure effective supervision including Written Supervisory Procedures (WSPs), operational procedures, and control mechanisms commensurate with changes in market regulation and the business environment. Represents the Retail B/D with external regulators and parties for some of Vanguard’s most specialized, complex, and highest risk functions.
• Manages relationships with external business partners, industry peers, counter parties and market participants. Represents the firm on industry groups and committees.
• Drives consistent improvement in core processes, including quality rates, improvements in flow of work, and productivity increases. Supports the incorporation of Lean, Agile, and Six Sigma Management into Trade Operations, including the use of modern operations tools to evaluate the health and performance of core processes. Partners with senior leadership across client segments and sales, operations, client experience, and marketing.
• Keeps current on market, regulatory, and industry events. Continuously expands knowledge of the business and brokerage industry; keeping current on the competition, including types and levels of services offered.
• Drives the development of the departmental strategic plan and budget. Sets and meets fiscal targets, allocates resources, and ensures the department operates within established budgetary guidelines.
• Positions oneself and develops a reputation as one of the primary leaders within the brokerage business and throughout the Vanguard organization.
• Participates in special projects and performs other duties as assigned.

• An undergraduate degree or equivalent combination of training and experience. MBA preferred.
• Minimum of fifteen years of related brokerage experience, including progressive management responsibilities. Minimum eight years of supervisory experience in financial services.
• Thorough understanding of securities trading and processing practices, organizations, and technology. Detailed knowledge of the financial industry and street side operations specifically, including securities lending,…